619

BCM Natural Gas (100%)

1.3

BCF/day

48

million Bbl condensate (100%)

Leviathan (15%)

Discovered in the Mediterranean Sea in 2010, the Leviathan field is one of the largest and most significant deep-water natural gas discoveries in the world in the first decade of the 21st Century.

The vision of Eitan Aizenberg, Ratio’s Chief Geologist, and of the Landau and Rotlevy families, regarding hydrocarbons potential in deep-water offshore Israel, led Ratio to apply for the “Ratio-Yam” preliminary permit, which was awarded in 2007 and extends over an overall area of c. 2,897 square kilometers, 130 km west of Haifa.

During 2008, Noble Energy (as operator), and the Delek Drilling and Avner partnerships joined the preliminary permit, which became the Amit, Rachel, Eran, David and Hanna licenses.

At the end of 2010, the Leviathan discovery was declared and became a cornerstone in realizing the State of Israel’s vision of reaching energy independence. Leviathan will be able to meet Israel’s natural gas demand for decades to come, alongside the option to export the gas to international markets.

According to NSAI’s independent Reserves and Contingent Resources report, the Leviathan field contains Proves (2P) and Contingent Resources (2C) of c. 21.8 TCF of natural gas and c. 48 million barrels of condensate. Due to its huge volume of natural gas, the Leviathan field is an anchor supplier for the domestic and regional energy markets and a significant economic growth engine for the State of Israel and its citizens.

In early 2017, Ratio and its partners in Leviathan signed a final investment decision (FID) for development of the first stage (Phase 1A) with a budget of c. USD 3.75.  The development of the Leviathan field is the largest private infrastructure project ever conducted in Israel. This development was completed at the end of 2019, on schedule and with budgetary savings of c. USD 200 million.

Phase 1A comprises four subsea wells, each with a production capacity of over 300 million cubic feet per day (mmcf/d) of natural gas. The produced natural gas is transmitted from the wells via two 115 km pipelines to a fixed platform located c. 10 km offshore, with a production capacity of c. 1.2 billion cubic feet per day (bcf/d) (12.4 BCM/y).

From the Leviathan platform, the gas pipeline is routed via Dor beach to the national gas transmission infrastructure of INGL (Israel Natural Gas Lines), where it is distributed to domestic customers or exported to Egypt and Jordan.

Link to the Leviathan project website

Israel’s demand for natural gas is expected to grow significantly during the current decade

1

Continued growth in electricity demand

2

Reduction of coal usage for electricity generationfollowing the Ministry of Energy’s decision to terminate the use of coal by 2025

3

Transition of industrial plants to natural gas usage

4

Transition of the transportation sector to G and electricity usages

5

Special projects such as desalination plants, railway electrification, petrochemical projects, etc

Terms of Use

Accessibility

Linkedin

This Site Made By

Terms of Use

Accessibility

Linkedin

Ronit Rinder - independent External Director

Serves as an independent External Director since September 2022. Member of audit and finance and compensation committees. Served as deputy to the internal auditor at Bank Leumi and as the internal auditor of the bank’s subsidiaries. Between 2015-2020, she served as the head of Bank Leumi’s assets, construction, procurement and logistics. As of 2019, she serves as the chairman of “Ezerat Ahim”, a public benefit company. She has a B.A in economics and accounting from Bar Ilan University.

Galia Maor – External Director

Ms. Maor has served as an External Director since June 2021. She is a member of the Audit And Finance Committees, As well As The Compensation, Investments And Donations Committees. Galia Maor served as president and CEO of The Leumi Group between 1995-2012, after serving as Deputy CEO between 1991-1995. Between 1963 -1989, she worked at The Bank Of Israel, where she served In management roles, Including the role of Bank Supervisor. Ms. Maor Serves as a board member of the Strauss-Group, and as a council member of the Open University Of Israel, as well as several other NPOs. Galia Maor holds a B.A In Economics and Statistics and an MBA from The Hebrew University.

Yekutiel Gavish – Director

Since 2005, Mr. Gavish Has Served As A Director And As A Member Of The Investments, Audit, Compensation And Finance Committees. He Also Serves As A Director In Several Other Private And Public Companies, Including REIT 1 Ltd., Tafnit Discount Investment Portfolio Management And More. His Previous Positions Include Chairman Of The Board Of Directors Of Tamir Fishman Underwriting Ltd., Co-CEO And Member Of The Board Of Directors Of Quality Capital Markets Ltd., Deputy CEO Of Poalim Capital Markets Ltd., And A Director At Bank Yahav And Halman Aldubi Provident And Pension Funds Ltd. Yekutiel Holds A B.A In Agricultural Economics From The Hebrew University Of Jerusalem.

Tamar Ciehanover – External Director

Since 2015, Ms. Ciehanover Has Served As An External Director And As A Member Of The Audit, Compensation And Finance Committees. She Is The CEO Of A Consulting Firm Advising Multinational Companies And Start-Ups And A Director At Discount Capital Markets Ltd. Tamar Holds An LL.B. From Bar -Ilan University And An MBA From Columbia University In The Unites States.

Yuval Landau – Director

One Of The Founders Of Ratio, Yuval Landau Has Served As A Director Since 2008. He Also Serves As A Director In Ratio Finance And Ratio Petroleum Energy Limited Partnership And As A Director Of Several Other Private And Public Companies, Including ProSeed Venture Capital Fund Ltd. And As Investment Manager At Hiram-Landau Ltd. Yuval Holds A B.A In Economics And Management From The Technion And An MBA From The Ono Academic College.

Yigal Landau – CEO and one of the Founders of Ratio

One Of The Founders Of Ratio, Yigal Landau Has Served As A Director Since 1992. He Is The CEO Of The General Partner – Ratio Oil Exploration Ltd. He Also Serves As director in Ratio Petroleum Energy Limited Partnership and Several Other Private And Public Companies

Private And Public Companies, Including ProSeed Venture Capital Fund Ltd. And Inbal Natural Gas And Fertilizer Industries Ltd. He Is The CEO Of Hiram-Landau Ltd., And A Member Of The Board Of Trustees At Ariel University. Yigal Holds A B.SC From The Technion And An MBA From Tel Aviv University.

Yair Rotlevy – Director

One Of The Founders Of Ratio, Yair Rotlevy Has Served As A Director Since 1999. He Also Serves As A Director In Ratio Finance And Ratio Petroleum Energy Limited Partnership, And As A Director In Several Other Private And Public Companies, Including D.L.I.N. Ltd., Lodzia Rotex Investments Ltd., Argaman Industries Ltd. (Chairman), Inbal Natural Gas And Fertilizer Industries Ltd., And ProSeed Venture Capital Fund Ltd. He Is The CEO Of Lodzia Rotex Investments Ltd. Yair Holds A B.A In Economics From Tel Aviv University And A B.A. In Sociology From The Hebrew University Of Jerusalem.

Ligad Rotlevy – Chairman of the Board

One Of The Founders Of Ratio, Ligad Rotlevy Has Served As A Director Since 1992 And As Chairman Of The Board Of Directors Since 2008. He Also Serves As Chairman Of The Board Of Directors Of Ratio Finance And Ratio Petroleum Energy Limited Partnership, And As A Director Of Several Other Private And Public Companies, Including Argaman Industries Ltd., Lodzia Rotex Investments Ltd., Rotex (1980) Ltd., Tools Development Ltd., ProSeed Venture Capital Fund Ltd. (Chairman), And SpaceCom Satellite Communications Ltd. Ligad Holds A B.A. In Computer Science And Exact Sciences From Tel Aviv University, And An MBA (International Finance) From UHBS University.